https://www.taxtmi.com/caselaws?id=56092 The Appellate Tribunal ITAT Ahmedabad-C ruled in favor of the registered firm in a case involving a penalty imposed under section 271(1)(a) of the Income Tax Act, 1961 for late filing of its income tax return for the assessment year 1982-83. The Tribunal considered the firm's advance tax payment exceeding the assessed tax as indicative of non-fraudulent behavior, leading to the cancellation of the penalty. The judgment emphasized the importance of assessing the assessee's conduct in penalty imposition cases, ultimately allowing the firm's appeal and canceling the penalty of Rs. 59,110. en-us Mon, 21 May 1990 00:00:00 +0530 Wed, 01 Dec 2010 15:34:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56092 The Appellate Tribunal ITAT Ahmedabad-C ruled in favor of the registered firm in a case involving a penalty imposed under section 271(1)(a) of the Income Tax Act, 1961 for late filing of its income tax return for the assessment year 1982-83. The Tribunal considered the firm's advance tax payment exceeding the assessed tax as indicative of non-fraudulent behavior, leading to the cancellation of the penalty. The judgment emphasized the importance of assessing the assessee's conduct in penalty imposition cases, ultimately allowing the firm's appeal and canceling the penalty of Rs. 59,110. Case-Laws Income Tax Mon, 21 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56092